Playing the EU PS3 version, and even though the image is slightly 'cleaner', there's nothing broken about it.
The producer did say on GAF that the European version wouldn't have the same issues that the US release does (indicating that it was knowingly released over there with those issues), though exactly what he was referring to isn't clear.
In this video
you can see how James continually stops and starts, something reported by a lot of players. That would make the game more or less unplayable for me.
Even without the technical issues, though, I'd be loath to spend money on a port that's been this sloppily put together (textures have been changed for the worse, lighting has been fucked around with, fog and other effects removed, music and other minor details altered for no apparent reason). I'll take the blurrier but otherwise as-intended PS2 versions instead.
Edited by FabricatedLunatic at 13:12:56 29-03-2012